PC Connection, Inc. (NASDAQ:CNXN) Expected to Post Q1 2024 Earnings of $0.55 Per Share

PC Connection, Inc. (NASDAQ:CNXN) – Sidoti Csr lowered their Q1 2024 earnings per share estimates for PC Connection in a research note issued on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now expects that the company will earn $0.55 per share for the quarter, down from their previous estimate of $0.60. The consensus estimate for PC Connection’s current full-year earnings is $3.48 per share. Sidoti Csr also issued estimates for PC Connection’s Q3 2024 earnings at $1.04 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $3.48 EPS, Q1 2025 earnings at $0.71 EPS and Q4 2025 earnings at $1.13 EPS.

Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

PC Connection Stock Performance

Shares of CNXN stock opened at $64.98 on Tuesday. The firm has a market cap of $1.71 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.79 and a beta of 0.66. The firm’s 50 day moving average price is $65.35 and its 200-day moving average price is $63.11. PC Connection has a one year low of $38.13 and a one year high of $70.55.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. The company had revenue of $696.47 million for the quarter, compared to analysts’ expectations of $673.51 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of PC Connection by 65.0% in the 4th quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock valued at $45,179,000 after purchasing an additional 264,687 shares in the last quarter. Rhumbline Advisers raised its stake in PC Connection by 151.5% in the third quarter. Rhumbline Advisers now owns 93,488 shares of the company’s stock valued at $4,990,000 after buying an additional 56,310 shares in the last quarter. Brown Advisory Inc. lifted its holdings in PC Connection by 12.5% during the 3rd quarter. Brown Advisory Inc. now owns 393,186 shares of the company’s stock worth $20,988,000 after buying an additional 43,578 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in PC Connection by 34.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock worth $6,287,000 after buying an additional 24,539 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of PC Connection during the 3rd quarter worth about $614,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from PC Connection’s previous quarterly dividend of $0.08. PC Connection’s dividend payout ratio (DPR) is presently 12.66%.

About PC Connection

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.